Sun Pharma weighs bond swap and euro bond for Organon deal
Updated
Updated · Bloomberg · May 6
Sun Pharma weighs bond swap and euro bond for Organon deal
10 articles · Updated · Bloomberg · May 6
For the proposed $12 billion acquisition of New York-listed Organon, global lenders are assessing financing options, including asking Organon bondholders to exchange their debt for Sun Pharma bonds.
Sun Pharma is also working on a potential euro-denominated bond that sources said could be rated one to two notches above Organon's pre-merger credit rating.
The financing discussions show the Indian drugmaker is exploring a mixed funding structure as it pursues one of the sector's larger cross-border healthcare deals.
Beyond the price tag, what hidden integration risks could derail Sun Pharma's historic takeover of Organon's troubled portfolio?
Is Sun Pharma's $12B bet on Organon a masterstroke or a debt-fueled gamble on a company with flatlining growth?